ELIZABETHTOWN, PA — Nassimi Realty has announced the purchase of Market St. Square a 169,856 s/f, fully-leased, grocery-anchored retail center in Elizabethtown.
Nassimi Realty LLC purchased the property asset free and clear of existing debt from Brixmor Property Group.
Market St. Square is located at 1605-1641 South Market St. right off of Pennsylvania 283 on the major retail corridor US 230 in Elizabethtown, a Lancaster County community in southern PA 21 miles south of downtown Harrisburg. The center is in close proximity to Elizabethtown College with more than 2,000 students enrolled. It is currently 100% leased by a strong lineup of national retailers including Sleepy’s, RadioShack, Hallmark, Sherwin-Williams & Dollar General and dual-anchored by Kmart and Weis Market which has been at this location for over 23 years maintaining a very profitable operation. The center benefits from its centralized location in a retail market with historically strong occupancy rates allowing the center to capitalize long term on a supply constrained, well-leased market with limited grocery-anchored options.
“We are glad to have expanded our portfolio with the acquisition of this stable and successful center,” Mike Nassimi said. “We have shopping centers across the eastern half of the United States and our strongest region is the north-east region. Market St. Square is now one of the many other centers we have in this area, including: Cedarbrook Plaza in Wyncote PA, Airport Village in Coatesville, PA, Weis Plaza in Kutztown, PA, Botany Plaza in Clifton, NJ, Edgewater Park Plaza in Edgewater Park, NJ, Ewing Towne Centre in Ewing, NJ, and East Meadow Commons in East Meadow, NY.”